Posted Date: 28/10/2025
Buying your first home isn’t just about saving for a deposit. There are other costs that can affect your mortgage application and overall budget.
Why These Costs Matter
Lenders look at your overall financial situation, including extra costs like solicitor fees, survey costs, and stamp duty. Even if your deposit is sufficient, not planning for these additional expenses can create challenges when applying for a mortgage.
Moving Forward
It’s important to budget for these costs early so you have a clear picture of your finances. Planning ahead can make your application smoother and help you avoid delays.At Muuvin Mortgages & Protection, we offer no-obligation calls to discuss your situation and provide guidance on how to prepare financially for your first home. You can also view more details about budgeting for first-time buyers on our dedicated page: https://muuvin.co.uk/first-time-buyer/
Do I need to pay solicitor fees upfront?
Yes, most conveyancing fees are paid as part of the buying process.
What is stamp duty, and do I need to pay it as a first-time buyer?
Stamp duty is a tax on property purchases. First-time buyers may be eligible for exemptions or reduced rates depending on the property price.
Should I include moving costs in my budget?
Yes, including moving and setup costs will help ensure you have a realistic financial plan.
Disclaimer
Your home may be repossessed if you do not keep up repayments on your mortgage.
This article is for general information only and should not be taken as advice. Mortgage applications are subject to status and lender criteria. The information provided is correct as of the date it was posted and may be subject to change without notice.
